Halifax and need some loan

plaistow_2

Hi

I bank with Halifax and earn around 29k a year, due to some family emergency i need a loan of 10k for short or long term.

I went to my bank today and asked if there is any offer available to my account and they said no loan offer is available but i can get pre-approved £5000 overdraft limit on my account.

I have never been declined for credit card from 5 years and has total of 5 cards pay them on time, Though credit history is bit better.

Please advice who should i go for the 10k loan on cheaper rate as i am bit hesitate to go with over draft.

Please advice.

PeacefulWaters

Try Zopa....

Edi81

How much is outstanding on your 5 credit cards - are any of these with Halifax?

Lenders are reluctant to lend if the loan will exceed 50% of your salary (£15k in your case).

Are you on voters roll, all credit up to date? Don't apply randomly for credit as the searches will look bad.

bargainbetty

If it is a family emergency is there no family member who can help you out? Can we ask what the money is for? Sometimes people on here can come up with cheaper ways of getting what you need, rather than how to get the credit you think you need.

Good luck

plaistow_2

Edi81 wrote: »

How much is outstanding on your 5 credit cards - are any of these with Halifax?

Lenders are reluctant to lend if the loan will exceed 50% of your salary (£15k in your case).

Are you on voters roll, all credit up to date? Don't apply randomly for credit as the searches will look bad.

I don't have any with halifax but with Barclays, Santander, hsbc and nationwide.

Its all up to date paid on time what ever spent.

Tixy

It might be worth applying to one of the places that will do a quotation/soft search of your credit file - such as zopa or nationwide.

These will help give you an indication as to whether you are likely to be accepted for a loan elsewhere and at what rate you may be accepted for.

Thrugelmir

plaistow wrote: »

I don't have any with halifax but with Barclays, Santander, hsbc and nationwide.

Its all up to date paid on time what ever spent.

Available credit may well have an impact in obtaining a sizable loan.

Fruit_and_Nut_Case

plaistow wrote: »

...i need a loan of 10k for short or long term...

Which is it? Short or long? The suggestions made might depend on this.

dealer_wins

If "family emergency" means lending a family member £10K, be very aware that you may never see a penny of it again.

Lending money to family can cause many problems, have a read of this thread if this is the case.

https://forums.moneysavingexpert.com/discussion/76953

CLAPTON

plaistow wrote: »

I don't have any with halifax but with Barclays, Santander, hsbc and nationwide.

Its all up to date paid on time what ever spent.

how much do you currently owe?

plaistow_2

CLAPTON wrote: »

how much do you currently owe?

I owe around £400 on credit card and as i said pay full each month by DD.

I do have limit of 12k on credit cards but i need cash due to my emergency and it won't be wise idea and even can't take the money out from CC.

I can easily pay around £350 if get the loan. What other bank do soft search for the loan other than Nationwide.

Please advice.